• 30 May, 2024
News

SBI VC Trade Initiates Validator Node on XRP Ledger to Enhance Security

SBI VC Trade, a subsidiary of Japanese financial firm SBI Holdings, has announced the launch of its validator node on the XRP Ledger, a decentralized layer 1 blockchain platform. Effective May 10, 2024, the company aims to establish itself as a stable validator and contribute to the ledger’s governance and growth.

As an operator of a validator node, SBI VC Trade will assist in maintaining the security and stability of the XRP Ledger. Validators are crucial for verifying transactions and securing the network. By continuously providing stable operation and gaining trust within the community, SBI VC Trade seeks to earn a place on the Unique Node List (UNL), a curated set of trusted validators recommended by the XRP Ledger Foundation. Being included in this list will enhance SBI VC Trade’s ability to directly contribute to decision-making processes, including the adoption of new features and protocols.

SBI VC Trade has long been a supporter of XRP, a native asset of the XRP Ledger. The SBI VC’s blog post, the company intends to represent the interests of Japanese XRP holders by considering their feedback in voting decisions related to network upgrades. To achieve this, the firm plans to conduct surveys and other outreach efforts to gather user input. In addition, SBI VC Trade will offer educational resources to ensure holders can make informed choices that align with the ecosystem’s best interests.

SBI VC Trade’s validator operation aligns with SBI Holdings’ broader objectives in the blockchain space. The group has leveraged XRP Ledger for international remittances through its Ripple Payments solution. Additionally, XRP Ledger will be used as the blockchain platform for the EXPO2025 Digital Wallet NFT project at the Osaka/Kansai Expo, which SBI Group sponsors.

SBI VC Trade aims to foster a robust validator system that reflects the preferences of XRP holders. As an influential stakeholder in the XRP Ledger ecosystem, the company will use its validator node to strengthen security, facilitate network upgrades, and maintain transparency. Through this initiative, SBI VC Trade aims to bolster the XRP Ledger’s capacity as a trusted and scalable blockchain for business applications.

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